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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
 Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research report by financial institution MF Global. The report highlighted the potential of Mozambique and Mongolia to be “potential game changers” on the supply side - but only from 2015 and “conditional on infrastructure”.
As a result of its concern over the provision of the required infrastructure, MF Global has turned bearish on prospects for Australian junior Riversdale Mining which is developing two major coking coal projects near Tete in Mozambique.
These are the Benga project, in which Indian steel group Tata holds a 35% stake, and the Zambeze project, in which Chinese group Wuhan Iron and Steel Corporation has just agreed to buy a 40% stake.
Riversdale has also struck a logistics partnership agreement with China Communications Construction Company.
This company will carry out a “mine to ship logistics” study into the export of large volumes of coal from Mozambique, which at present suffers severe limitations on its rail and port infrastructure.
On Thursday, Riversdale announced a capital raising of A$337m at a fixed offer price of A$9.40 a share to accelerate the development of stages two and three of the Benga project.
Riversdale chairman Michael O’ Keeffe said the accelerated logistics development also included “Riversdale’s commitment to upgrading the existing coal terminal at Beira, for which Riversdale has entered into a memorandum of understanding with Vale and the Mozambique rail and port authority CFM.”
MF Global has put out a sell recommendation on Riversdale, on the grounds that the market “is expecting too much too soon”.
The firm said: “The risk/reward profile on offer is actually about long-term infrastructure development and financing.
“Given the recent share price moves, we believe the market is already pricing in quite an optimistic outcome on this front, particularly when compared to a number of producing companies where resource optionality isn’t being valued at all.
“The infrastructure demands are challenging and we expect disappointments. Riversdale’s production targets are conditional upon a significant amount of infrastructure being developed and allocations being received.
“Investors without a very long-time horizon and specialist interest in development risk would be best taking profits above $10.”
MF Global said the coking coal market appeared more balanced than iron ore, because China was not such a major factor.
The firm said: “Japan is the largest destination (35%) followed by India (20%), China (10%) and Europe (10%).
“The more balanced spread is positive when compared to the concentrated risk of the iron ore market, particularly if there is to be a more balanced global economy in 2010.
“In the longer term, demand will be driven by India and Brazil which are long (on) iron ore but short coking coal. “
Turning to the supply side, MF Global pointed out this was dominated at present by Australia which accounted for 70% of the seaborne trade in coking coal. However, supply growth from that country was constrained by logistics problems.
About 85% of the metallurgical coal exports from Australia are shipped from the state of Queensland, but MF Global pointed out port capacity has been operating at around 70% to 80% for the past five years.
The report stated: “In Queensland, the rail network is underdeveloped and congestions are frequent. System underperformance has resulted in lost sales and increased demurrage. “The queues of ships that can sometimes stretch as long as 70 in number and can wait for over a month to be loaded, are nearly always caused by rail congestion rather than the port facility itself.”
Source: Mining Mx / Hellenic Shipping
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Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
Thursday, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
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- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Planning Commission, India
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Thiess Contractors Indonesia
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